These banking giants managed to outperform their index last month.
The post Here are the 3 top-performing ASX 200 banks of November appeared first on The Motley Fool Australia. –
November was tough for S&P/ASX 200 Index (ASX: XJO) banks. Not one saw its share price increase over the course of the month.
In fact, the S&P/ASX 200 Banks Index fell a whopping 10.5% last month.
But these 3 managed to outperform the sector, recording less severe falls than some of their peers.
Let’s take a look at which ASX 200 banks earned their place on the podium for best November performance.
The 3 top-performing banking giants of November
National Australia Bank Ltd (ASX: NAB) – down 4.91%
November was a positive month for NAB, and its share price reacted in turn, beating the sector by 5.5%.
NAB released its full-year earnings in early November, helping to boost its stock to a new 52-week high over the coming days.
Just before the month’s end, the Australian Competition and Consumer Commission gave it the go-ahead to acquire Citigroup‘s Australian consumer business.
Having ended October trading at $28.71, the NAB share price was $27.30 on 30 November.
Australia and New Zealand Banking Group Ltd (ASX: ANZ) – down 5.12%
November was a quiet month for ANZ but its share price managed to keep its head above water.
Luckily, as of the time of writing, it has regained its crown.
The ANZ share price finished October at $28.14 and ended November trading at $26.70.
Bendigo and Adelaide Bank Ltd (ASX: BEN) – down 7.35%
The Bendigo Bank share price earned its place on the podium for overachieving ASX 200 banking shares.
The big news out of the bank last month was its planned ‘digital transformation’.
It released a price-sensitive presentation on the transformation on 26 November. Unfortunately, its share price slipped 0.9% that same day.
The transformation will see the bank creating digitised offerings for several of its services. It also includes the acquisition of fintech business, Ferocia, which was completed in August.
Ferocia, alongside the bank’s digital home loan platform, Tic:Toc will see Bendigo Bank offering home loans through its popular banking app, Up next year.
Having ended the previous month at $9.25, the Bendigo Bank share price was $8.57 at the final close of November.
The post Here are the 3 top-performing ASX 200 banks of November appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.